Climate change & climate protection

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Detailed analyses of climate change over the last 40 years allow Munich Re to make the appropriate recommendations for action for its clients.

In the 1970s, as part of geo-risk research activities within the company, Munich Re began to investigate the causes behind increasingly costly losses from weather-related natural catastrophes. Over the years, the complexity of the issues involved became increasingly clear as scientific advances were made. Today, we are integrated into a comprehensive scientific network that gives us access to the latest findings on climate change, and ensures a high level of quality for our analyses. The different findings from these analyses are consolidated on an ongoing basis and translated into relevant recommendations for action for the Munich Re Group.

Munich Re's activities relating to climate change focus on the following fields of activity:

Source: Munich Re, 2014

  • Risk assessment:
    Identification of the risks of change from climate change for our business model, in other words in all classes of business as well as in the field of asset management. The most important examples of such risks are changing probability distributions for meteorological parameters (which in turn impact on the occurrence probabilities for weather-related natural catastrophes) and regulatory measures.

  • Business opportunities:
    Exploration of new kinds of insurance solutions in business fields that are affected by climate change. Examples here include initiating innovative insurance solutions in the renewable energies sector, cover concepts in the agriculture sector, and protecting against weather risks on the basis of parametric triggers.

  • Asset management:
    Changing political/regulatory background conditions, e.g. in the energy and carbon markets are also generating new risks and opportunities in the field of asset management. For example, we have been investing for a number of years in renewable energies, providing private-sector capital to finance infrastructure measures.  

Through our participation in numerous climate initiatives, we share our expertise with stakeholders in the fields of finance and politics, supranational organisations, NGOs and civil society, in particular our know-how relating to the risk of change in connection with weather-related natural catastrophes.

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